Gold prices steady; Trump’s political troubles, Sino-U.S. trade in focus

Gold prices steadied on Friday in Asia. U.S. President Donald Trump’s political troubles and Sino-U.S. trade developments were in focus.

Gold Futures for December delivery were little changed at 1,513.65 by 12:30 AM ET (04:30 GMT).

The release of a whistleblower complaint against Trump revealed more details behind the impeachment inquiry that the House of Representatives launched against him earlier this week.

The White House released a reconstructed transcript of a call between the president and his Ukrainian counterpart, where Trump is heard asking a “favor” before discussing a corruption probe in the East European nation that links to his political rival, former VP Joe Biden.

The news sent U.S. stocks lower overnight, but had little impact on the yellow metal.

Sino-U.S. trade developments were also in the spotlight as Beijing’s top diplomat said the country is willing to purchase more U.S.-made goods after Washington showed goodwill by easing tariffs on a range of Chinese products.

“And so, (on) the Chinese side, we are willing to buy more products that are needed by the Chinese market,” Wang Yi, China’s foreign minister,said in response to questions from Reuters that trade discussions.

Officials from both sides will resume talks in October in Washington.